Berlin Warns of Possible Greek Insolvency German Finance Minister Calls for Athens Debt Restructuring

In a letter sent to the European Commission, the European Central Bank, the International Monetary Fund and euro-zone countries, Germany's finance minister warns of the possibility of a Greek bankruptcy and concedes the current bailout plan has failed. Instead he is calling for a de facto debt restructuring. Resistance within Merkel's conservatives is stewing.
German Finance Minister Wolfgang Schäuble wants "a fair burdern-sharing between taxpayers and private investors."

German Finance Minister Wolfgang Schäuble wants "a fair burdern-sharing between taxpayers and private investors."

Foto: Rainer Jensen/ dpa